Oslo, 26 March 2013
EAM – Targets PV projects in Italy after successful Initial Public Offering
EAM Solar ASA (“EAM Solar” or the “Company”) last week announced the successful
completion of its initial public offering with its shares to be listed on Oslo Axess under the
ticker “EAM” on Oslo Stock Exchange, Norway.
With a shareholder base of leading Scandinavian institutional investors, EAM is now well
positioned to acquire large scale PV plants in operation and portfolios. Initial focus will be on
Italy, with France and UK as secondary markets says Oystein Kvarme, Partner at EAM Solar
Park Management and Head of Acquisitions and Industrial Partnerships.
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EAM is the first listed company with focus on PV plants in operation, without taking project
development or construction risk. EAM will own and operate PV plants for a duration of 20 years or
longer. Initially a portfolio will be built from operating assets under Feed In Tariff regime, but the
company intends to become a significant player in the Grid Parity market. In this context EAM is now
in the process of establishing industrial partnerships with leading EPCs.
EAM make PV plants an investable asset class for institutional investors by providing a listed and
tradable instrument, considering also to introduce rated instruments and bonds. Once new projects
are identified and project rights secured, EAM plans to issue new share offerings on a regular basis to
its shareholders.
For further information, please contact:
Oystein Kvarme, Partner EAM Solar Park Management, phone +47 918 45 435
email [email protected]
About EAM Solar:
EAM Solar is a utility company that acquires and operates solar power plants. The Company currently
owns two solar power plants – Varmo and Codroipo in Italy – which were acquired during the winter
2011/12. The two plants hold an aggregate production capacity of 4.65 MW, and are operating under
long-term sales contracts covering the minimum economic lifetime of the plants. EAM Solar acquires
power plants that are commissioned, connected to the grid and in power production at the time of
financial close.